May 18 (Reuters) - Cato Corp
* Cato reports decline in 1Q EPS
* Q1 earnings per share $0.85
* Q1 sales fell 17 percent to $237.7 million
* Company's same-store sales for quarter decreased 17 pct to last year
* Sales for Q1 were $237.7 million, a decrease of 17 pct
* "it is taking longer to work through these issues than expected and remainder of year will be impacted"
* "we expect earnings for year to be below last year." Source text for Eikon: Further company coverage: